Affidavit, select quote:“In the instance of the UTC trades, there was no market manipulation, only response to economic signals. Dr. Chen responded logically and economically correctly to an environment in which the transaction costs – the transactional friction – of putting on UTC transactions had been dramatically reduced, and in which there were known and demonstrable low probability, unpredictable but high pay off outcomes – the “home runs” – that could be targeted with high volumes of bids across many hours. In addition, and critically, there was no harm to the market caused by Dr. Chen’s transactions.”